Observer’s 2024 Business of Art Power List has named Philip Hoffman as a leading authority on transforming art into a serious asset class, shifting how collectors and investors view the market.
Observer’s Power Lists are among the most coveted and sought-after recognitions across industries. Observer’s Business of Art Power List honors the visionaries who wield outsized influence on art’s present and its future.
PHILIP HOFFMAN & THE FINE ART GROUP
Since founding The Fine Art Group in 2001 and pioneering the first-ever asset-backed art investment fund, Philip has transformed how the world views art—not just as a cultural treasure, but as a powerful financial asset. Reflecting on his journey, Philip shared with Observer: “Many collectors, including my initial backers, thought art was merely a cultural asset, not a financial one.”
Two decades later, Philip has proven that art can rival blue-chip stocks in both profitability and complexity, solidifying his place as a leader in art investment and advisory.
Click here to read the full article in Observer.
In a recent ARTnews article, “It’s Too Early to Know if Fed’s Interest Rate Cut Will Revive a Flagging Art Market, Experts Say” Philip Hoffman, founder of The Fine Art Group, weighed in on the Federal Reserve’s half-point interest rate reduction. While Hoffman acknowledges the move as positive, he suggests that a further one to two percent drop is needed before significant corrections in the art market occur. He describes the upcoming auction season as a “chicken and egg” situation, with cautious buyers and sellers waiting for better economic conditions and clarity on future tax policies.
Read the full article on ARTnews here.
Philip Hoffman, founder of the Fine Art Group and former Christie’s director, shares insights with Jewish News on the increase in younger art collectors.
Trend in Younger Art Investors
The Fine Art Group, with a clientele predominantly under 40, is leading the way in this new era of younger art investors. These investors, as Hoffman explains, see art as a means of diversification and are increasingly comfortable treating their art collections as assets. However, the art market can be a complex landscape to navigate. This is where the Fine Art Group stands out. Their role is not to dictate purchases but to empower clients with knowledge, ensuring they are well-informed before making any decisions.
Click here to read the full article in the Jewish News.
The Fine Art Group is honored to have Freya Stewart recognized by Spear’s Magazine as a top-recommended professional in the Art Finance field. Freya has been ranked as an expert in the art finance industry for high-net-worth individuals in the UK.
Please contact Freya Stewart or Ei-Linn Liew with any art financing needs you or your clients may have.
VIEW THE LIST AT SPEAR’S MAGAZINE
Spear’s 500 Best Art Finance Advisor List
Colleen Boyle, The Fine Art Group’s Managing Director of Business Development and Philanthropy Strategy, was a guest on Ren’s Philanthropic Insights podcast series that explores tax-smart giving strategies.
In this episode, Colleen Boyle, Managing Director at The Fine Art Group, shares insights on passion assets. Colleen shares 20+ years of expertise in art and finance. As a Chartered Advisor in Philanthropy, she guides clients on passion asset donations, offering insights into art valuation, legal analysis, and strategic monetization for charitable causes.
Patti Wong, founder of Patti Wong & Associates, joins the esteemed M+ Board of the West Kowloon Cultural District Authority (WKCDA). With a decades-long career and a profound understanding of cultural dynamics, Wong brings invaluable insight to the board’s vision. Her strategic acumen and dedication to advancing the arts align seamlessly with the ambitious goals of the West Kowloon Cultural District, ensuring its position as a global cultural hub. As the district continues to evolve, Wong’s appointment heralds a new chapter of innovation and excellence in Hong Kong’s cultural landscape.
To read more click here.
Philip Hoffman, Founder and CEO of The Fine Art Group, and Patti Wong, Co-founder and Partner of Patti Wong and Associates, joined Josh Baer at The Upper House during Hong Kong Art Week for the first installment of the Baer Faxt Talks series. The conversation delves into the advisors’ wealth of experience, revealing behind-the-scenes anecdotes from their collaborations with prominent collectors worldwide.
Watch the complete discussion on art advisors and strategies for navigating today’s art market by clicking here.
Philip Hoffman, Founder and CEO of The Fine Art Group, and Patti Wong, Co-founder and Partner of Patti Wong and Associates, joined Josh Baer at The Upper House during Hong Kong art week for our inaugural edition of The Baer Faxt Talks series.
Moderated by Rahul Jacob, former Hong Kong Bureau Chief of the Financial Times, this conversation about art advisors and how to navigate the current art market features behind-the-scenes stories from each of the three advisors’ decades of experience working with top collectors around the globe.
In the wake of Art Basel’s return to Hong Kong, Philip Hoffman, founder and CEO of The Fine Art Group, spoke to Bloomberg about the cautious yet opportunistic stance of art dealers and collectors amidst a subdued market environment.
Hoffman reveals that their esteemed clients remain poised to seize promising investment opportunities, reflecting the resilient allure of the art market amidst economic uncertainties. “The dealers are coming here with lower expectations than five years ago amid a quieter market, but our important clients have asked us to report back on what’s here and are ready to spend if they see the opportunity.”
Click here to read the full Bloomberg article.
As 2023 wraps up, Chairman of The Fine Art Group, Australia & New Zealand, Roger McIlroy, spoke with the Australian Financial Review on the art market performance in 2023.
GOOD YEAR FOR AUSSIE AUCTION HOUSES
When discussing what has factored into the success of the Australian art market over the last year, McIlroy shared this: “I think the market will still concentrate quite heavily on the unique and the top end, the really top things, because there’s plenty of people around who want to buy the top things and in any cycle those things do very well.”
Click here to read the full article in the Australian Financial Review.
Full Article.
Following the marquee sales of 20th/21st century art in New York, Philip Hoffman spoke to The New York Times regarding the state of the current art market.
AN INTERESTING AUCTION SEASON
With 14 live sales across the major houses—Christie’s, Sotheby’s, and Phillips—the November season saw many challenges. “While in art market terms it was a success, in business terms it was an expensive investment,” said Philip Hoffman.
Click here to read the full article in the New York Times.
Full Article.